Needham & Company LLC Lowers Azenta (NASDAQ:AZTA) Price Target to $55.00

Azenta (NASDAQ:AZTA) had its price objective decreased by Needham & Company LLC from $69.00 to $55.00 in a research report released on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Separately, Evercore ISI lowered their price objective on Azenta from $53.00 to $50.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $63.60.

Azenta Stock Down 2.6 %

Azenta stock opened at $41.51 on Wednesday. The firm has a 50 day moving average price of $45.56 and a 200-day moving average price of $50.44. Azenta has a twelve month low of $40.24 and a twelve month high of $69.16. The company has a market capitalization of $2.03 billion, a P/E ratio of -13.98 and a beta of 1.48.

Azenta (NASDAQ:AZTA) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.10 by $0.08. The business had revenue of $170.00 million for the quarter, compared to the consensus estimate of $169.66 million. Azenta had a positive return on equity of 1.03% and a negative net margin of 25.01%. Azenta’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.13 earnings per share. Equities analysts expect that Azenta will post 0.42 EPS for the current fiscal year.

Insider Activity at Azenta

In other news, CFO Herman Cueto sold 1,595 shares of the business’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $43.68, for a total transaction of $69,669.60. Following the completion of the transaction, the chief financial officer now directly owns 24,604 shares in the company, valued at $1,074,702.72. The trade was a 6.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Azenta

Several large investors have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Azenta by 1.7% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 13,488 shares of the company’s stock worth $813,000 after purchasing an additional 229 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Azenta by 20.0% in the third quarter. Farther Finance Advisors LLC now owns 1,537 shares of the company’s stock worth $74,000 after purchasing an additional 256 shares during the last quarter. Arizona State Retirement System boosted its position in Azenta by 2.0% during the second quarter. Arizona State Retirement System now owns 14,050 shares of the company’s stock valued at $739,000 after buying an additional 269 shares during the period. Green Alpha Advisors LLC grew its stake in shares of Azenta by 3.5% during the third quarter. Green Alpha Advisors LLC now owns 10,203 shares of the company’s stock valued at $494,000 after buying an additional 348 shares during the last quarter. Finally, QRG Capital Management Inc. increased its holdings in shares of Azenta by 6.6% in the third quarter. QRG Capital Management Inc. now owns 6,156 shares of the company’s stock worth $298,000 after buying an additional 383 shares during the period. Institutional investors own 99.08% of the company’s stock.

About Azenta

Azenta, Inc provides biological and chemical compound sample exploration and management solutions for the life sciences market in North America, Africa, China, the United Kingdom, rest of Europe, the Asia Pacific, and internationally. The company operates in two reportable segments, Life Sciences Products and Life Sciences Services.